...- S&P Global Economics now expects Canada to enter a recession due to the COVID-19 pandemic, and S&P Global Ratings expects the poor macroeconomic environment to hurt Corus Entertainment Inc.'s operating performance because of the company's high exposure to advertising revenues. - As a result, we expect the company's leverage measures to be elevated at about 4.0x over the next 12 months. - Therefore, on April 20, 2020, S&P Global Ratings revised its outlook on Corus to negative from stable. - At the same time, we affirmed our '##' long-term issuer credit rating on the company and our '##+' issue-level rating on Corus' senior secured debt. The '2' recovery rating on the debt is unchanged. - The negative outlook reflects our uncertainty about how severely the coming macroeconomic downturn will affect Corus' operating performance in terms of a sharper drop in advertising revenues, which could keep leverage measures elevated over the next 12 months....
